Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 42.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 568,206 shares of the semiconductor company’s stock after acquiring an additional 169,608 shares during the quarter. Corient Private Wealth LLC’s holdings in Analog Devices were worth $112,823,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Analog Devices during the fourth quarter worth $1,225,227,000. Massachusetts Financial Services Co. MA lifted its position in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after purchasing an additional 1,486,180 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in shares of Analog Devices by 193.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after purchasing an additional 775,000 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.5 %

NASDAQ:ADI traded down $1.12 during mid-day trading on Tuesday, hitting $216.36. The company had a trading volume of 854,308 shares, compared to its average volume of 3,259,433. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $218.70. The business has a fifty day simple moving average of $197.94 and a 200-day simple moving average of $192.07. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $107.30 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 5.38 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.75 EPS. Equities analysts forecast that Analog Devices, Inc. will post 5.85 earnings per share for the current fiscal year.

Insider Transactions at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the subject of several recent analyst reports. Truist Financial decreased their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Barclays lifted their target price on shares of Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday. Oppenheimer increased their price objective on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, KeyCorp boosted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $214.50.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.